The agreement will provide funding for a total of £225,000 over the next three years.

The agreement was signed by Ana Botín, chief executive of Santander UK and Cardiff University’s vice-chancellor Dr David Grant at a ceremony.

The bank will fund scholarships and awards for students and staff to study in the UK and abroad. Santander will also provide support to the Student Hardship Fund, a research grant for the School of Wales, support to the Cardiff School of European Studies, mobility grants for the Cardiff Business School and support for a student development unit.

Dr Grant said: “Cardiff University is delighted to continue its mutually beneficial partnership with Santander. We welcome Santander’s generous support for students and researchers which will allow the University to develop a variety of academic projects, many of them building on our existing strong links with Spain, Portugal and Latin America. The new agreement will also offer opportunities for students wishing to start business or social enterprises, and to develop key employment skills.”

Ms Botín said: “Santander’s commitment to the university community has become one of the key features of our identity. Cardiff was one of the first universities to join our network in the UK back in 2008.”